Samsung board sets date for AGM on March 20

Samsung Electronics’ board of directors confirmed the date for its general stockholders meeting next month and agreed on the nomination of new outside directors at a meeting Tuesday.

The meeting reportedly took place without the presence of Samsung’s de factor leader and vice chairman, Lee Jae-yong.

During the meeting held at the company’s Suwon headquarters, board members confirmed the stockholder meeting would be held on March 20. It will take place at the company’s Seocho office in southern Seoul.

The nominees for new outside directors are Kim Han-jo, chief director of the Hana Nanum Foundation, and Ahn Kyu-ri, a professor of medicine at Seoul National University. They will replace two of the three current outside directors - former Prosecutor General Song Kwang-soo and Lee In-ho, former president of Shinhan Bank - whose tenure will expire next month. Former Finance Minister Bahk Jae-wan has been recommended for reappointment.

The agenda for next month’s meeting includes approval of the financial statement and confirmation of nominated directors and members of the audit committee. The limits of director remuneration will also be discussed.